Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    7 Naomis Way Harrisonburg, VA 22801

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $549,900

    1.2 acre lot suitable for medical, financial, or professional use.

    Lot size:
    1.20 Acres

    Property Features for 7 Naomis Way

    General Information

    Standard status
    Active
    Lot size
    1.20 Acres

    We can help!

    Listing Contact
    Craig Anders
    Source: Exprealty

    Listing Agency: Cottonwood Commercial LLC Listing Agent: Craig Anders

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Corner Lot Ready to Build

    Lot 7 is a 1.2-acre flat lot located at the corner of Stone Spring and Port Republic Rd in Coffman’s Corner, ready for construction. The parcel is suitable for medical, financial, or professional uses. It is situated across the street from Rockingham Memorial Hospital. This highly visible parcel is located in Rockingham County and has no BPOL tax. The lot is situated in the middle of new development in the area.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Auto Repair Shop Auto Parts Store Food Market Electrical Service Pet Store Carpet & Flooring Store Farmer's Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Harrisonburg
    County
    Harrisonburg
    State
    Virginia
    Longitude
    -78.9398
    Latitude
    38.5056

    Nearby Similar for Sale

    • $6,650,000
      42,000 SF

      High-Security Building Near JMU

      Premium high-security building on 7.55 acres near JMU.
      1450 Technology Dr, Harrisonburg, VA 22802
      View Details
    • $2,200,000
      7,197 SF

      Harrisonburg Office Building For Sale

      7,200 SF professional office building in high-traffic location.
      530 Neff Ave, Harrisonburg, VA 22801
      View Details
    • New
      $995,000
      5,199 SF

      Professional Office Building For Sale

      5,200 SF office building in Rockingham County, Virginia.
      1591 Port Republic Rd, Harrisonburg, VA 22801
      View Details
    • $3,595,000
      22,088 SF

      Versatile Commercial Building Near I-81

      22,088 SF commercial property ideal for retail or warehousing.
      1740 E Market St, Harrisonburg, VA 22801
      View Details
    • $950,000
      4,960 SF

      Downtown Harrisonburg Office Building For Sale

      Two-story office building in downtown Harrisonburg with income potential.
      66 W Water St, Harrisonburg, VA 22801
      View Details
    • $3,750,000
      7,110 SF

      Restaurant Building Near James Madison University

      Restaurant building near university with high capacity kitchen and parking.
      350 University Blvd, Harrisonburg, VA 22801
      View Details
    • $629,900
      Pending

      Turn-Key Medical Office Condo

      Fully equipped medical suite in a thriving commercial area.
      1947 Medical Ave, Harrisonburg, VA 22801
      View Details
    • $1,849,000
      6,656 SF

      Harrisonburg Multifamily Investment Opportunity

      14-unit apartment building near JMU, Valley Mall, and downtown.
      91 Dutch Mill Ct, Harrisonburg, VA 22801
      View Details
    • $1,849,000
      6,656 SF

      Harrisonburg Multifamily Investment Opportunity

      14-unit apartment building near JMU, Valley Mall, and downtown.
      91 Dutch Mill Ct, Harrisonburg, VA 22801
      View Details
    • $1,200,000
      7,560 SF

      New Construction Warehouse/Flex Space

      New construction warehouse/flex space for sale or lease in Harrisonburg.
      979 Sawtooth Oak Cir, Harrisonburg, VA 22802
      View Details
    • $1,199,900
      Pending

      Historic Building in Downtown Harrisonburg

      Spacious building with parking in the heart of Harrisonburg.
      227 NORTH Main St, Harrisonburg, VA 22802
      View Details
    • $999,000
      4,600 SF

      Renovated Flex Space on Rt. 42

      Multi-use commercial space ideal for various business types.
      1090 Virginia Ave, Harrisonburg, VA 22802
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.2 acre lot suitable for medical, financial, or professional use.
    Where is this commercial land located?
    The property is located at 7 Naomis Way Harrisonburg, VA.
    What is the asking price?
    The asking price for this property is $549,900.
    What are key features of this property?
    This property features: - 1.2 acre lot ready to build on.; - Located on the corner of Stone Spring and Port Republic Rd in Coffman’s Corner.; - High visibility location.
    (540) 383-6054
    Request Owner's contact information
    7 Naomis Way Harrisonburg, VA 22801
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7 Naomis Way
    Harrisonburg, VA 22801
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7 Naomis Way Harrisonburg, VA 22801
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Craig Anders
    (540) 383-6054
    Learn more
    Google sign-in failed. Please try again or use another login method.